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ITHUF

iAnthus Capital Holdings, Inc. reported Q1 2024 financial results with a net loss of $14 million, improved from the previous year, and revenue growth of 13.1% YoY to $41.6 million. Gross profit increased to $17.2 million, and adjusted EBITDA was positive at $3.2 million. CEO Richie Proud highlighted the company's focus on consumer care and product innovation.

Portfolio Pulse from Jelena Martinovic

May 14, 2024 | 4:44 pm

CAAS

STLA

China Automotive Systems, Inc. (CAAS) reported a Q1 earnings increase with EPS at 27 cents, up from 23 cents year over year, despite a 2% drop in net sales to $139.4 million. The decrease in sales was primarily due to a 12.4% decline in North American sales, notably lower sales to Stellantis N.V. (STLA). However, gross profit and income from operations saw significant increases. The company maintains its full-year revenue guidance at $605.0 million.

Portfolio Pulse from Nabaparna Bhattacharya

May 14, 2024 | 4:29 pm

BA

Boeing has announced a postponement of the Starliner launch to no earlier than May 21 due to an issue with the spacecraft's propulsion system. This delay could impact Boeing's schedule and reputation in the aerospace sector.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 4:09 pm

ERIC

Ericsson shares are trading higher following the announcement of the expansion of its Vonage Premier for Service Cloud Voice solution, now including integration with Salesforce Einstein Conversation Insights. The stock is also positively influenced by movements in sympathy with Vodafone Group.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 4:08 pm

AMC

AUGX

CTNT

GME

HD

NOTV

SCPX

U.S. stocks traded higher with the Nasdaq gaining over 50 points. Home Depot reported a sales decline of 2.3% in Q1, missing estimates. Cheetah Net, AMC, and GameStop shares surged, while Augmedix, Scorpius Holdings, and Inotiv shares fell. Oil prices dropped by 1.2%, and gold prices increased.

Portfolio Pulse from Avi Kapoor

May 14, 2024 | 4:06 pm

ORCL

Elon Musk's artificial intelligence company, xAI, is reportedly close to finalizing a deal worth approximately $10 billion to lease AI servers from Oracle. This significant agreement underscores the growing demand for AI infrastructure and Oracle's position as a key player in providing these technologies.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 4:02 pm

RCEL

AVITA Medical (NASDAQ:RCEL) has been analyzed by 4 analysts in the last three months, showing a shift towards a more cautious stance with 3 somewhat bullish and 1 indifferent rating recently. The average 12-month price target has been adjusted to $19.00, down 9.52% from previous estimates, reflecting a negative sentiment shift. AVITA's RECELL system, a burn treatment device, is a key product, with the company focusing on the US market despite having approvals in other regions. Financially, AVITA has shown significant revenue growth but operates at a net loss, with a strong ROE and ROA compared to industry averages.

Portfolio Pulse from Benzinga Insights

May 14, 2024 | 4:00 pm

BON

Bon Natural Life Limited (NASDAQ:BON) announced a strategic cooperation with Guangdong JUWO Trading Co., Ltd. for marketing and supply chain development in liquor distribution and sales, including liquor brands, functional liquor, and hangover relief products in mainland China. The agreement involves co-branding and the launch of liquor products under the 'Jiangwang and App-Chem' brand, with JUWO handling promotion and marketing. This marks the first collaboration between App-Chem and JUWO's Chinese Moutai-flavor liquor brand, aiming for market expansion and innovation.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 3:57 pm

VINO

Gaucho Group Holdings, Inc. (NASDAQ:VINO) reports a 217% increase in year-to-date wine sales in Argentina for 2024, attributed to expanded distribution networks and e-commerce growth. The devaluation of Argentina's peso has positively impacted the cash flow in its wine segment.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 3:49 pm

CSCO

Cisco Systems Inc is set to report its fiscal third-quarter results, with analysts anticipating stabilizing core business trends. The company recently launched Hypershield to enhance data center and cloud security. Analysts from Piper Sandler and JPMorgan maintain Neutral ratings, with price targets of $51 and $53, respectively. The upcoming earnings will include contributions from the Splunk acquisition, expected to significantly boost the Security and Observability segments. However, challenges in the Networking segment and potential order declines could dampen investor enthusiasm.

Portfolio Pulse from Priya Nigam

May 14, 2024 | 3:45 pm